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could be created. Since the proposal is still in the concept stage, it is not yet known exactly what <br />variations would be needed from the R-4 regulations, except for the density increase. <br />Whether through a zoning change, PUD, or TIF agreement, the City would be able to apply <br />design standards to the proposal. Due to the location, a traffic study may also be warranted. <br />Since the number of units is relatively small compared to the surrounding area and since housing <br />tends to have a different traffic pattern, the impact may not be significant but a full analysis <br />would provide more information. <br />Given the size of the property and proposal, a Comprehensive Plan amendment is likely to <br />receive Metropolitan Council approval and may qualify for their faster administrative review <br />process. Additionally, the project helps the City advance the affordable housing goals described <br />in the 2030 Comprehensive Plan.. <br />Timeline and Letter of Support <br />Page 9 of the booklet includes a general development timeline. While the timeline states that <br />SCI is seeking Council support in August, the Council does have until the September 14 regular <br />meeting to determine if a letter of support will be approved. In the meantime, the developer and <br />staff can work to answer any open questions that need to be addressed prior to making a <br />determination on the letter. <br />The deadline for the Housing Tax Credit application is October 1, 2009; however, SCI would <br />need to be working on the application well in advance of the deadline. MHFA would make its <br />determination by January 29, 2010. <br />A letter of support is not an approval of the project; however, the letter would be a good faith <br />commitment from the City to provide the identified support if the housing tax credits are <br />approved by MHFA. If T1F is used, the project would need to meet all TIF statutory <br />requirements. The City would not begin processing a TIF request or any other part of the <br />development review until MHFA has made their decision in January 2010. If the City is willing <br />to use TIF or any other type of support, the City would still have the opportunity to complete a <br />financial analysis to ensure the soundness of the project. Offering any type of support in a letter <br />of support is not a blind approval of support or the project. <br />Attachments <br />A. Arden Village Proposal — Submitted by Sand Companies, Inc. <br />B. MHFA Housing Tax Credits & Minnesota Overlay to the Green Communities Criteria <br />(referenced on page 5 of the booklet) <br />C. September 17, 2008, Memo from the Finance Director regarding the TIF District <br />Analysis <br />City of Arden Hills <br />City Council Work Session for August 17, 2009 <br />C.-Documents and Settingslbecky.UrazyslLocal SettingslTemporary Internet FileslOLK15171081709 - CC Memo -Arden Village -Sand <br />Companies.doc <br />Page 4 of 4 <br />